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LML4804 Assignment 3 (COMPLETE ANSWERS) Semester 2 2024 (803378) - DUE 25 September 2024 $2.92   Add to cart
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LML4804 Assignment 3 (COMPLETE ANSWERS) Semester 2 2024 (803378) - DUE 25 September 2024

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  • Course
  • Tax Law (LML4804)
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  • University Of South Africa (Unisa)
  • Book
  • Income Tax in South Africa

LML4804 Assignment 3 (COMPLETE ANSWERS) Semester 2 2024 (803378) - DUE 25 September 2024 ; 100% TRUSTED Complete, trusted solutions and explanations. For assistance, Whats-App 0.6.7-1.7.1-1.7.3.9. Ensure your success with us.. QUESTION 1 (CAPITAL GAINS TAX) Ms. Kru, a South African resident worked...

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  • September 10, 2024
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  • 2024/2025
  • Exam (elaborations)
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LML4804
Assignment 3 Semester 2 2024
Detailed Solutions, References & Explanations

Unique number: 803378

Due Date: 25 September 2024
QUESTION 1

Section 26A of the Income Tax Act mandates that the taxable capital gain must be included in a
person’s taxable income for the relevant year of assessment. To determine the taxable capital gain,
it is essential to ensure that all four key elements are present. The issue of residency and the
application of the Eighth Schedule are critical in this process.

Definition of Assets:

According to Paragraph 1 of the Eighth Schedule, an asset includes property of any nature,
whether movable or immovable, corporeal or incorporeal, excluding currency but including coins
made mainly of gold or platinum. In this scenario, the following qualify as assets:




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